Ethereum / TetherUSUpdated ETHUSDT: Sell Or Buy !
Based on the provided chart for Ethereum/USDT, the price is moving within a clear ascending channel, showing an overall bullish trend with potential pullbacks. Here is a brief analysis and strategy:
Current Price Movement: ETH is currently retracing from a recent high (around 2,490) but remains within the ascending channel.
Support and Resistance Levels:
Resistance: Around 2,490-2,500 (upper boundary of the channel).
Support: The lower boundary of the channel, near 2,440-2,450.
Trade Strategy:
Buy: Wait for a pullback to the lower boundary of the channel, ideally near 2,440. If the price confirms support in this area, a buy entry could be ideal.
Target: Look to take profits near the upper boundary of the channel, around 2,500-2,520.
Stop Loss: Place below the channel, around 2,430.
Market Sentiment: As long as the price stays within this upward channel, the overall trend remains bullish. However, a breakout from this channel (either up or down) could lead to significant price movement.
Current Price Movement: ETH is currently retracing from a recent high (around 2,490) but remains within the ascending channel.
Support and Resistance Levels:
Resistance: Around 2,490-2,500 (upper boundary of the channel).
Support: The lower boundary of the channel, near 2,440-2,450.
Trade Strategy:
Buy: Wait for a pullback to the lower boundary of the channel, ideally near 2,440. If the price confirms support in this area, a buy entry could be ideal.
Target: Look to take profits near the upper boundary of the channel, around 2,500-2,520.
Stop Loss: Place below the channel, around 2,430.
Market Sentiment: As long as the price stays within this upward channel, the overall trend remains bullish. However, a breakout from this channel (either up or down) could lead to significant price movement.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.